By Dallas Business Journal

Oil giant Exxon Mobil says global energy demand will grow by 35 percent in the next 19 years as demand in developing nations expands by 70 percent.

The Irving-based company released its Outlook for Energy: A View to 2030 on Friday.

The report also concluded that natural gas is set to become the second-largest energy source behind oil, offering a cleaner alternative that will help reduce the environmental impact of higher energy demand. The oil giant added that further exploration of shales and of nontraditional energy sources is necessary to meet the expected demands.

⿿Our energy outlook clearly points to a growing demand for energy globally which reflects improving living standards for millions of people around the world," said Rex W. Tillerson, chairman and CEO. "Exxon Mobil will continue to invest in technology and innovation to develop new economic energy supplies to help meet this demand while looking for ways to reduce environmental impacts.⿝

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Copyright 2011 American City Business Journals

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